Gulfport Energy (NYSE:GPOR) Posts Quarterly Earnings Results, Beats Expectations By $991.30 EPS

Gulfport Energy (NYSE:GPOR) issued its earnings results on Tuesday. The company reported $999.00 earnings per share for the quarter, topping the consensus estimate of $7.70 by $991.30, reports. Gulfport Energy had a return on equity of 21.85% and a net margin of 30.01%.

Gulfport Energy Stock Performance

GPOR traded up $0.66 during trading on Tuesday, hitting $195.42. 385,826 shares of the stock were exchanged, compared to its average volume of 333,568. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.43. Gulfport Energy has a 1-year low of $160.95 and a 1-year high of $225.78. The stock has a fifty day moving average price of $200.94 and a two-hundred day moving average price of $199.81. The firm has a market capitalization of $3.53 billion, a P/E ratio of 9.61, a PEG ratio of 0.93 and a beta of 0.46.

Analysts Set New Price Targets

Several brokerages have commented on GPOR. Weiss Ratings upgraded shares of Gulfport Energy from a “hold (c)” rating to a “buy (b)” rating in a research note on Monday, March 2nd. TD Cowen upgraded shares of Gulfport Energy to a “strong-buy” rating in a report on Monday, February 9th. Bank of America increased their target price on shares of Gulfport Energy from $215.00 to $237.00 and gave the company a “buy” rating in a research report on Thursday, March 19th. Truist Financial initiated coverage on shares of Gulfport Energy in a research note on Tuesday, March 24th. They set a “hold” rating and a $230.00 price target on the stock. Finally, Zacks Research raised shares of Gulfport Energy from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 7th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $230.00.

Insider Buying and Selling at Gulfport Energy

In other news, Director Timothy J. Cutt sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $208.73, for a total transaction of $1,043,650.00. Following the transaction, the director directly owned 26,255 shares in the company, valued at approximately $5,480,206.15. This trade represents a 16.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Michael L. Hodges sold 16,769 shares of Gulfport Energy stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $210.70, for a total transaction of $3,533,228.30. Following the completion of the transaction, the chief financial officer directly owned 18,473 shares in the company, valued at $3,892,261.10. The trade was a 47.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 876,258 shares of company stock valued at $179,141,707. 0.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Gulfport Energy

Hedge funds have recently made changes to their positions in the business. Advisory Services Network LLC acquired a new position in Gulfport Energy in the 3rd quarter valued at about $28,000. EverSource Wealth Advisors LLC grew its stake in shares of Gulfport Energy by 364.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 251 shares of the company’s stock valued at $50,000 after purchasing an additional 197 shares during the last quarter. Kestra Advisory Services LLC acquired a new position in shares of Gulfport Energy in the fourth quarter valued at approximately $54,000. Prelude Capital Management LLC purchased a new stake in shares of Gulfport Energy during the third quarter worth approximately $201,000. Finally, Bridgeway Capital Management LLC purchased a new stake in shares of Gulfport Energy during the fourth quarter worth approximately $208,000.

About Gulfport Energy

Gulfport Energy Corporation is an independent oil and gas exploration and production company based in Oklahoma City, Oklahoma. The company focuses on the development of onshore natural gas, natural gas liquids (NGLs) and crude oil properties in the United States. Gulfport utilizes horizontal drilling and multi-stage hydraulic fracturing techniques to maximize production and enhance recovery from its resource plays.

The company’s primary operations are concentrated in two major U.S. resource basins.